Accelerating Global Development smart Plans to raise 250-300 Million USD Series-A Funding Led by Tianqi Lithium
- smart plans to raise 250-300 Million USD series-A funding from the capital market. This round of fund raising is led by Tianqi Lithium.
- Due to the collaboration with worldwide industry leaders, smart is enhancing its long-term sustainable development strategy and accelerating its global development.
- Both partners Mercedes-Benz and Geely support the fund-raising plan and will remain equal controlling shareholders of smart and are highly confident in the brand’s future development.
(July 13, 2023, Hangzhou) smart, the new-premium intelligent all-electric auto brand today announced the series-A funding plan of raising 250-300 Million USD. This round of fund raising is led by Tianqi Lithium (Stock Code: SZ.002466/ 9696.HK), with an investment plan of 150 Million USD. It represents a new milestone in smart’s journey to become a world-leading all-electric auto brand. Both partners Mercedes-Benz and Geely support the fund-raising plan and will remain equal controlling shareholders in smart, and are highly confident in the brand’s future development.
smart Plans to raise 250-300 Million USD Series-A Funding Led by Tianqi Lithium
Following the comprehensive renewal of brand, product and business model, smart has entered the new era of full-speed global operation in 2023. With smart #1 officially launched and delivered in China, Germany and France, the first member of smart’s new generation all-electric product portfolio has received widely recognition of global markets and media. Meanwhile, the official launch of the brand’s first coupé-style SUV, the all-new #3 was witnessed on Jun. 1st in China, and the delivery was kicked-off after only 20 days. The #3 will be launched in European markets as well in early 2024.
smart has entered the new era of full-speed global operation
Meanwhile, the brand will continue to pursue its “China-Europe Dual-home” Global Development Strategy, with the brand aiming to further strengthen its presence in these two major NEV markets, as well as actively exploring other high-growth potential markets worldwide. In the first half of 2023, smart delivered 23,540 units in China, achieving a leading position in its specific segment. In Europe, the first batch delivery started in March, and the delivery will ramp up to a new level shortly.
In the first half of 2023, smart delivered 23,540 units in China
“Thanks to the support from Mercedes-Benz and Geely, smart now is accelerating its global development and business operation. Meanwhile, we are more than glad to welcome the strategic investments of worldwide industry leaders, such as Tianqi Lithium," said Mr. Tong Xiangbei, Global CEO of smart Automobile. "We are confident this move will allow us to further broaden smart’s horizons and strengthen our next-step plans to enhance the competences of smart in global markets."
Mr. Tong Xiangbei, Global CEO of smart Automobile
Tianqi Lithium is a global new energy materials company, with lithium at its core. The company has always implemented the concept of global industrial layout and established various forms of strategic cooperation with leading enterprises in the upstream and downstream of the industrial chain with an open and cooperative attitude.
As smart passes another important milestone on its transformative journey, the brand remains steadfast in its commitment to long-term global development. This critical step in smart’s evolution strengthens the brand’s commitment to shaping the future of urban mobility, joining hands with extraordinary industry leaders to design a smarter future together.
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About smart Automobile
Since the birth of the brand in the 90s, smart has always maintained the vision of exploring the best solutions for future urban mobility. In 2019, smart Automobile Co., Ltd. was officially established. With a forward-looking "China-Europe dual-home" global development strategy, smart is committed to developing into a world-leading, new-premium, intelligent, and all-electric auto brand.
smart has completed a comprehensive renewal of its brand, product, and business model. The new generation all-electric product development is led by the smart R&D team, with the Mercedes-Benz global design team responsible for vehicle design, and the product portfolio now expanded into more market segments. As the renewed brand's first compact all-electric SUV, the smart #1 made its world premiere in April 2022, with initial deliveries in China followed by Europe. The second model, the thrilling new-premium smart #3 SUV coupé, made its world premiere in April 2023. Every year from 2022 to 2024, smart will bring an all-new model to customers, further enriching the new generation all-electric product portfolio.